| Author |
 Topic  |
|
n/a
deleted
35 Posts |
 Posted - 03/23/2008 : 00:32:19
|
| I agree. Pre-82 Pennies will without a doubt be worth more than their face value, likely as collectibles I think. Metal value will follow the trend of the 60s silver transition as well. Just don't spread yourself thin, that's been my point all alone really, lots of things will be more valuable so it's important to diversify in what ever manner you see fit. I play devils advocate alot, but just to get us thinking about unforeseen issues, that's all... |
 |
|
|
c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 03/23/2008 : 20:47:35
|
quote:
Originally posted by glenn
I agree. Pre-82 Pennies will without a doubt be worth more than their face value, likely as collectibles I think. Metal value will follow the trend of the 60s silver transition as well. Just don't spread yourself thin, that's been my point all alone really, lots of things will be more valuable so it's important to diversify in what ever manner you see fit. I play devils advocate alot, but just to get us thinking about unforeseen issues, that's all...
Glenn,
I appreciate you point of view....often 180 degree from mine...but sitll appreciate your courage in sharing....often at a price of taking a beating. Heck, I've even taken a shot or two at a few of your posts! |
|
|
|
CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 03/23/2008 : 22:23:52
|
quote:
I agree. Pre-82 Pennies will without a doubt be worth more than their face value, likely as collectibles I think. Metal value will follow the trend of the 60s silver transition as well. Just don't spread yourself thin, that's been my point all alone really, lots of things will be more valuable so it's important to diversify in what ever manner you see fit. I play devils advocate alot, but just to get us thinking about unforeseen issues, that's all...
I see what youre saying and appreciate your view. I am not putting all of my eggs in one basket so to speak. My small penny hoard of 16,000 copper pennies were all obtained at face value. Sure I could spend my time doing something more constructive but I am also a collector and not just a speculator. So I get some enjoyment from my hobby while at the same time setting some copper pennies aside that may or may not bring a nice premium in the future. But let's say the $160 I have in pennies went to a bank and sat there for 5 years or so. With interest rates the way they are, would I even have $200 at the end of the 5 year period? Take that versus the potential upside of these, and I would rather sit on them. I also buy gold and silver, and out of my bi-weekly paycheck, 12% of it goes into my 401K along with a company match. So I think I have a nice balance going. I know some guys here are doing alot more volume here with pennies, and I can appreciate that. I am the last person to tell someone how they should spend their money or time, so if they see fit to hoard thousands of pennies a month, more power to them. |
My hobby: collecting real money 1 copper cent or nickel at a time.
|
|
|
|
Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 03/24/2008 : 10:06:51
|
Look at the Canadian program to reel in as much of their Ni circulating coinage, melt it and replace with steel ones. The US is soon to follow. They'll start first with the cent and will probably place a bounty on the Cu cents as an incentive for Brinks and others to divert them to the mint. The Feds don't need to worry about fighting with the vending machine lobby organizations since penny use in machines is non-existent now. This incentive may be only a fraction of a cent each, but at the current average of about 25% Cu still in circulation, the Cu recovery will add up for them even in spite of the high transportation costs.
No one should divert their entire investment dollars into one area be it Cu, Ni, pork bellies, Rhodium, orange juice futures, gold, etc. Hanging on to the Cu cents for a minimal investment and a maximum potential just seems to be a reasonable approach. We can all find our level of commitment and tolerance (plus storage space) when determining how deeply we want to immerse ourselves in this quest. While the buying power of the dollar is certainly in question even in the short term, I think that we'll all know within 9-12 months what the next move will be by the Feds and the Mint. That move certainly won't be to revert back to minting Cu cents.
This situation will get even more interesting after the November elections. Hoard on ! |
Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
|
|
|
Topic |
|
|
|
Anyone buying Copper pennies yet 59-81?
Forum Locked
